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Major events funding to drive occupancy and visitation in NSW

Accommodation Australia welcomes substantial State Budget funding for tourism, nightlife and major events

In a significant boost for New South Wales’ accommodation and tourism industries, the state budget has allocated substantial funding to support tourism, nightlife, and major events.

Stacey McBride, General Manager of Accommodation Australia NSW, expressed her approval of these measures, highlighting their positive impact on the sector.

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Destination NSW will receive a substantial $324.5 million, with a particular focus on developing a ‘Foundation Events’ category. This initiative recognises and supports the critical role that key events play in driving tourism and supporting the accommodation industry.

Ms McBride emphasised the substantial impact of major events on the wider accommodation and hospitality sectors.

“Time and time again, we have seen the huge impact major events have on the wider accommodation and hospitality sectors,” she stated. We saw it with one-off events like World Pride, the Taylor Swift tour, and the FIFA Women’s World Cup, and we see it each year with recurring events like the Sydney Festival and Vivid.

She further noted that events significantly boost occupancy rates and visitation, creating a ripple effect that benefits food, beverage, and retail sectors. “Any investment in events is an investment in the visitor economy,” she added.

The budget also includes $1.66 billion in measures to support the arts and night time economy, with $26.9 million specifically allocated for developing night time precincts across the state. These investments are expected to enhance the vibrant nightlife in NSW, attracting more visitors and supporting local businesses.

In addition, $5.5 billion has been allocated to the Sydney Metro-Western Sydney Airport project. This funding includes the delivery of Stage 1 of a Rapid Bus Project, which will link Penrith, Campbelltown, and Liverpool with the new airport, improving accessibility and convenience for travelers.

Ms McBride extended her gratitude to the NSW Government.

“A big thank you to the NSW Government for recognising the importance of the tourism economy and listening to the needs of the industry,” she said.

With these significant investments, the accommodation and tourism sectors in NSW are poised for growth, further solidifying the state’s position as a premier destination for both domestic and international visitors.

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